What happened to Matthew Perry’s estate? His trust preserves privacy

Matthew Perry was born on August 19, 1969, in Williamstown, Massachusetts, and raised in Ottawa, Canada. He moved to Los Angeles as a teenager to pursue a career in acting. Perry’s breakthrough came in 1994 when he was cast as Chandler Bing in “Friends,” a role that would define his career and make him a household name. Over 10 seasons, “Friends” became one of the most popular sitcoms of all time, and Perry’s portrayal of the sarcastic yet lovable Chandler earned him critical acclaim and several award nominations.

Despite his professional success, Perry struggled with substance abuse throughout much of his career. He was open about his battles with addiction, using his experiences to advocate for others facing similar challenges. Perry’s personal journey and commitment to helping those in recovery became a significant part of his legacy.

On October 28, 2023, Matthew Perry was found dead in his Los Angeles home, from what was initially reported as an apparent drowning. In the immediate aftermath of his passing, media attention quickly turned to the details of his estate, as is often the case with high-profile celebrities. However, unlike many other celebrity estates, Perry’s estate planning successfully kept most details about his assets and beneficiaries out of the public eye.

Matthew Perry's death was ruled accidental, with the acute effects of ketamine cited as the primary cause. Contributing factors included drowning, coronary artery disease and the effects of buprenorphine, a medication used to treat opioid use disorder. Perry had been undergoing ketamine infusion therapy for depression and anxiety, but the levels found in his system exceeded those typically used in medical treatment. This discrepancy led to a criminal investigation, resulting in charges announced in August 2024 against five individuals, including two doctors and Perry's assistant, for their alleged roles in supplying the ketamine.

One of the most notable aspects of Matthew Perry’s estate plan is how little is known about it. This lack of public information is a testament to the effectiveness of his estate planning. Media reports suggest that Perry utilized a revocable living trust as the primary vehicle for his estate, a common strategy among celebrities and wealthy individuals. By placing his assets in a trust, Perry ensured that the details of his estate would remain largely private, avoiding the public probate process that would have exposed his financial affairs to scrutiny. While specific details of Matthew Perry’s assets and beneficiaries remain largely unknown due to the use of a trust, some information has emerged through media reports.

He openly shared his personal struggles with addiction to raise awareness and reduce stigma, and he was a prominent advocate for addiction recovery causes. Perry converted his Malibu home into a sober living facility called Perry House and worked with organizations like Phoenix House to support addiction treatment. He received recognition for his efforts, including the Phoenix Rising Award in 2015. While addiction recovery was his primary focus, Perry also supported other charitable causes throughout his life.

Perry's last will and testament, created in 2009, directed that the majority of his assets be placed into the Alvy Singer Living Trust, a trust named after a character from the film “Annie Hall,” according to published reports. This trust was designed to manage and distribute his assets according to his wishes, ensuring privacy and avoiding the public probate process. The beneficiaries of the trust reportedly included his parents, half-sister and ex-girlfriend. Perry had no children. Notably, Perry’s will reportedly specified that any potential children he might have had would not be entitled to his estate, a provision likely intended to prevent future claims against his assets.

A revocable living trust, like the one Perry used, is a legal document that allows an individual (the grantor) to manage their assets during their lifetime and designate beneficiaries to receive those assets upon their death. Trusts aren't just for celebrities and can be used by anyone wishing to keep their estate plan details private and avoid legal disputes. Upon the grantor’s death, the trust becomes irrevocable, and the assets are distributed to the named beneficiaries according to the trust’s terms. This structure allows for easy management of the estate, bypasses probate and keeps the details private. The key advantages of a revocable living trust include:

• Privacy. Unlike a will, which becomes public record once it is submitted to probate court, a trust remains private.


• Avoiding probate. Assets held in a trust bypass the probate process, allowing for a faster and more efficient transfer of assets to beneficiaries.


• Control and flexibility. The grantor can amend or revoke the trust during their lifetime, offering flexibility in managing their estate.

Privacy was a significant consideration in Perry's estate planning. By utilizing a living trust, Perry ensured that the details of his estate remained confidential, avoiding the public scrutiny associated with probate. This approach allowed Perry to manage his substantial estate, estimated at more than $120 million, without exposing his beneficiaries to unwanted attention.

With a net worth exceeding $120 million, federal estate taxes were a likely concern for Perry. The federal estate tax exemption at the time of his death was $12.92 million, meaning a significant portion of his estate could be subject to a 40% tax rate. By incorporating a trust and charitable donations into his estate plan, Perry may have employed strategies to mitigate this tax burden, preserving more wealth for his beneficiaries and supporting charitable causes advocating addiction recovery.

For example, a revocable living trust can be paired with other strategies, such as charitable trusts, grantor retained annuity trusts (GRATs) or irrevocable life insurance trusts (ILITs), to reduce the taxable value of an estate. By carefully planning an estate, high-net-worth individuals can protect wealth from unnecessary tax burdens.

Privacy has its limits. Despite Perry's efforts, his name remained in the headlines long after his death due to the circumstances surrounding his demise. Autopsy results and court filings related to criminal proceedings are typically part of the public record, underscoring the challenges of maintaining privacy in high-profile cases. While Matthew Perry’s estate planning successfully maintained the privacy of his assets and beneficiaries, it ironically could not shield him from the scandalous headlines that followed his death. This contrast underscores the limitations of privacy even with the most carefully crafted estate plans. While trusts can keep financial details private, they cannot prevent the public from speculating or creating narratives about a celebrity’s life and death.

Matthew Perry’s estate planning serves as a powerful example of how trusts and other legal instruments can be used by anyone to maintain privacy, achieve tax efficiency and potentially support charitable causes. Perry’s legacy, marked by his contributions to entertainment and his advocacy for addiction recovery, continues to make an impact. His story illustrates the importance of estate planning not just for wealth preservation but also for protecting the dignity and privacy of one’s final wishes.

While trusts can keep financial details private, they cannot prevent public speculation. Nevertheless, Perry's approach to estate planning offers valuable lessons on balancing privacy, philanthropy and financial prudence in the public eye.